The post you are reporting:
My understanding Ray, is that they don't have to start paying back until they're earning above £21,000 pa, and only builds to a larger repayment as their salary grows - is that not true ?
All the time the debate and arguments were going on about it, that was the main point being put across - that they don't start paying back until they are earning good money (not that £21,000 is very good money, but the payments will be low then.
Monthly payments
9 per cent of your income over the threshold of £21,000 a year.
For example, your course starts in September 2012 and you finish in June 2015. In September 2015 you're earning £25,000. This is £4,000 over the £21,000 threshold. You pay 9% of £4,000 which is £360. This means from April 2016 you pay back £30 per month.
Your income per year Monthly repayments
£21,000 and under no repayments
£25,000 £30
£30,000 £67.50
£40,000 £142.50
£50,000 £217.50
£60,000 £292.50
Please advise if the above is wrong Ray.
Roger